I was out for most of the day today, but did receive a question from one of my readers. He wanted to know my take on oil here.
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Above is a 4 hour chart for crude oil dating back to Mid April. If prices can trade back above $47, this could be the beginning of a possible breakout in prices. Under $45-44, and I would look to cut exposure to oil.
It could go either way, but we should know soon which way it will break.
I’m still going through some charts as I catch up my day, here’s a look at Tuesday’s hybrid movers: CLICK HERE FOR CHARTS
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I’m in on the oily dice roll – will be a fine day if oil decides to play along
indeed. I like what I saw today.